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so242-terms109 - PARTIAL LIST OF TERMS USED IN SO242/IR242...

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PARTIAL LIST OF TERMS USED IN SO242/IR242 COUNTRY TERMS Developing countries Less developed countries (LDCs) Underdeveloped –symptoms of which include lack of access to job opportunities, health care, drinkable water, food, education and housing. Underdevelopment takes place when resources are not used to their full socio-economic potential , with the result that local or regional development is slower in most cases than it should be. Furthermore, it results from the complex interplay of internal and external factors that allow less developed countries only a lop-sided development progression. Underdeveloped nations are characterized by a wide disparity between their rich and poor populations, and an unhealthy balance of trade . Emerging markets – nations with social or business activity in the process of rapid growth and industrialization . Currently, there are 28 emerging markets in the world, with the economies of China and India considered to be by far the two largest. Semi-developed countries—the industrializing, mostly capitalist countries which are positioned between the periphery and core countries. allow for the possibility of innovative technology, reforms in social and organizational structure, and dominance over peripheral nations. Poor Peripheral i.e.) Russia — those that are less developed than the semi- periphery and core countries. These countries usually receive a disproportionately small share of global wealth. They have weak state institutions and are dependent on – according to some, exploited by – more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems . 1
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New industrial countries (NICs)— a socioeconomic classification applied to several countries around the world by political scientists and economists. countries whose economies have not yet reached First World status but have, in a macroeconomic sense, outpaced their developing counterparts . Another characterization of NICs is that of nations undergoing rapid economic growth . social upheaval can occur as primarily rural, or agricultural, populations migrate to the cities, where the growth of manufacturing concerns and factories can draw many thousands of laborers. Third world— during the Cold War to define countries that remained non- aligned or not moving at all with either capitalism and NATO or communism and the Soviet Union. This definition provided a way of broadly categorizing the nations of the Earth into three groups based on social, political, and economic divisions. The term continues to be used colloquially to describe the poorest countries in the world. Global South— The nations of Africa, Central and Latin America, and most
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so242-terms109 - PARTIAL LIST OF TERMS USED IN SO242/IR242...

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